B‑to‑B Direct Marketing in the Pharmaceutical Industry
Consumers can’t help but notice the rise in direct marketing from pharmaceutical concerns and this form of marketing is effective. The Direct Marketing Association reports a 10 to 1 return on investment when it comes to direct marketing in this industry. Specifically, the association has tracked the expenditure of $1 billion in directly marketing expense to $10 billion in higher sales. The interesting detail is these expenditures don’t only occur in the b‑to‑c segment. Pharma firms need to reach physicians and their prescription pads to generate higher sales. Increased regulation and cost-cutting measures have reduced the number of detail reps who had been the mainstay of distributing samples and educating physicians on newly available medications. As a result, pharma firms are increasingly using direct snail mail and email to capture the attention of medical practitioners.
Keep these details in mind as you prepare media mix proposals for your pharma clients.